Focused Energy, a company developing laser-based fusion, has raised an additional USD 11 million in Series A funding. This brings the total Series A funding round to USD 82 million. The round was led by Prime Movers Lab, with participation from investors VCP Capital and Tony Florence.

The company intends to use the funds to further research and commercialize nuclear fusion as a safe, climate-neutral, and inexhaustible source of energy.

Analyst QuickTake: The additional funding comes after Focused Energy received USD 3 million in funding from the US Department of Energy’s Milestone-based Fusion Development Program in May 2023 . The company was one of eight fusion companies to receive a total of USD 46 million in funding to advance designs and research and development for fusion power plants. Other companies that were included in the funding were Commonwealth Fusion Systems, Princeton Stellarators, Realta Fusion, Tokamak Energy, Type One Energy, Xcimer Energy, and Zap Energy.